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By Adam Clark
Ted Baker PLC said Tuesday that sales were in line with expectations for the second quarter but pushed back the intended launch of its new e-commerce platform.
The U.K. fashion chain said revenue for the 16-week period to Aug. 14 grew on-year by 50% as it recovered from the effects of the Covid-19 pandemic.
Ted Baker said the exit rate for the last four weeks of the period was better than the quarter overall and its trading margin had improved by more than 500 basis points due to a better price mix across all retail channels. It also said its autumn/winter collections are being well received by customers.
The company said some technical aspects of its e-commerce platform have taken longer to resolve than expected.
“Given the proximity to the upcoming peak trading period and need to fully test its business readiness and stability ahead of implementation, we will move the go live date to early 2022. This date change will have no material impact on the performance of our eCommerce business,” Ted Baker said.
Write to Adam Clark at adam.clark@dowjones.com
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